After Acquiring OLX, Jiji Strengthens Grip On Classifieds Space With USD 21 Mn Series-C

By  |  December 10, 2019

Jiji; the online classifieds company which is based in Lagos, Nigeria, though co-founded by the Ukrainians, Anton Wolyansky and Vladimir Mnogoletniy, has raised a USD 21 Mn Series-C round from UAE-based Knuru Capital.

This is coming after a major development from earlier this year which saw Jiji expand to 4 other African countries — Ghana, Kenya, Uganda, and Tanzania — after acquiring strong competitor, OLX, in a deal reportedly worth between USD 1.5 Mn to USD 3.5 Mn.

With over 2 million listings across Africa and up to 8 million monthly users, Jiji considers itself the largest online classifieds site in Africa having launched in 2014.

While the amount of funding raised by Jiji in both its Series-A and Series-B rounds are still somewhat enshrouded in mystery, sources place the company’s total funding at USD 50 Mn with the latest Series-C round.

As can be deduced from the comments of Jiji’s co-founder, Vladimir Mnogoletniy, the Pan-African classifieds company is targeting more listings, an upgrade on its platform, and growth in the number of transactions on its site. And the latest funding round is expected to facilitate these goals.

Cross-Border Money Transfer In Africa: Is Bitcoin The Golden Silver Bullet?

 image

With the latest move, it appears Jiji is still going hard on a classifieds market that is, quite frankly, not much of a market, especially in Africa.

Factors like low internet penetration, poor economic conditions, and high internet costs pose a threat to online businesses in general and the classifieds business has perhaps suffered more than most — many classifieds platforms have been forced to close shop over the years.

Journalism is broken in Africa


Help us build a narrative on African Business, Startups, Tech and Economy
Join us today to empower great story telling, one story at a time

Monthly Membership

$10

(billed monthly)

Access To 1 Month WT Membership

Access To Premium Newsletters For 1 Month

1 Month Access To WT's Content Archive

Access To WT's Conferences & Events

Access To All WT's Research Reports On Africa

Access To Podcasts, Video Content & Recordings

Subscribe Now
Popular

Annual Membership

$60

(billed annually)

Access To 12-Month WT Membership

Access To WT's Conferences & Events

Access To All WT's Research Reports On Africa

Access To Podcasts, Video Content & Recordings

Access To All Premium Newsletters

Unlimited Access To WT's Content Archive

Subscribe Now

If you are a Corporate or a Student, please reach out to us for subscription at [email protected]